Minneapolis-based U.S. Bank (NYSE: USB) did not admit liability in the settlement, which was announced by HUD on Friday, according to HousingWire.com, a financial news source for the mortgage industry.

>Click here to read more from HousingWire.com.

HUD said in a 2006 investigation that the mortgages, which were written in 2003 and 2004, failed to meet Federal Housing Administration underwriting standards. HUD said it lost $465,000 on those loans.

The investigation found that U.S. Bank violated FHA rules by including overdue principal, interest and late charges in the refinancing of the mortgages, the website said.

U.S.

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The $135 million renovation of Kuhio Park Terrace in Honolulu will begin May 19.

Work will begin on The Towers at Kuhio Park Thursday following a blessing ceremony. It will be the first public-private housing partnership in the state, according to a project announcement.

The project’s development partners are The Michaels Development Co., Vitus Group and the Hawaii Public Housing Authority.

The $135 million renovation of Kuhio Park Terrace in Honolulu will begin May 19.

Work will begin on The Towers at Kuhio Park Thursday following a blessing ceremony. I

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April foreclosure filings in Arizona fell from March and were down overall from a year ago, according to the latest numbers Thursday from RealtyTrac Inc. However, Arizona continues to have the No. 2 foreclosure rate in the nation.

Arizona posted the nation’s second-highest state foreclosure rate with one in every 205 housing units receiving a foreclosure filing in April. Only Nevada had a higher rate, with one in every 97 homes receiving a filing.

In Arizona in April there were 13,419 filings, down 15 percent from March and down 17 percent from April 2010.

Foreclosure filings were reported on 219,258 U.S.

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Maui County is considering making what is already the highest real property tax on time shares in the nation even higher.

It’s part of an across-the-board increase in property taxes that’s being contemplated by the Maui County Council.

At a hearing on Thursday, the council heard from landowners upset by a proposal to double the minimum tax on land from $150 to $300, according to the Maui News.

But while rates for other categories would rise by anywhere from 50 cents to 70 cents per $1,000 of assessed value, the tax on time shares would increase by $1 to $15 per $1,000 of assessed value.

Since 2005, Maui County has been the only local government with a tax rate category just for time shares, according to the time-share industry’s trade group, the American Resort Development Association.

“Maui still has the highest property tax rate on time shares than anywhere else in the country,” Gamel says. “If you i

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Former Buffalo Sabres defenseman Toni Lydman has sold his house in Clarence.

According to documents filed in the Erie County Clerk’s office, Lydman sold his house on Corinne Lane, for $735,000. The house was bought by Mikhail and Svetlana Strutsovsky, according to the documents.

Lydman left the Sabres last summer after signing a free agent contract with the Anaheim Ducks. Lydman spent five years with the Sabres.

Former Buffalo Sabres defenseman Toni Lydman has sold his house in Clarence.

According to documents filed in the Erie County Clerk’s office, Lydman sold his house on Corinne Lane, for $735,000. The

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